Cambiar Investors LLC Sells 6,643 Shares of Cboe Global Markets, Inc. $CBOE

Key Points

• Cambiar Investors LLC reduced its stake in Cboe Global Markets by 12.3%, holding 47,536 shares worth approximately $10.76 million after selling 6,643 shares.
• Cboe Global Markets plans to increase its quarterly dividend from $0.63 to $0.72, with a dividend yield of 1.2%.
• The company's recent earnings report showed earnings per share of $2.46, exceeding estimates, with quarterly revenue up 14.3% year-over-year.

Cambiar Investors LLC trimmed its position in Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 12.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,536 shares of the company's stock after selling 6,643 shares during the quarter. Cambiar Investors LLC's holdings in Cboe Global Markets were worth $10,757,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Clearstead Trust LLC acquired a new position in shares of Cboe Global Markets in the first quarter valued at $26,000. NBC Securities Inc. acquired a new position in shares of Cboe Global Markets in the first quarter valued at $27,000. Greenline Partners LLC acquired a new position in shares of Cboe Global Markets in the fourth quarter valued at $29,000. Hughes Financial Services LLC acquired a new position in shares of Cboe Global Markets in the first quarter valued at $29,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Cboe Global Markets by 4,633.3% in the first quarter. Cornerstone Planning Group LLC now owns 142 shares of the company's stock valued at $30,000 after purchasing an additional 139 shares in the last quarter. 82.67% of the stock is currently owned by institutional investors and hedge funds.

Cboe Global Markets Price Performance

Shares of CBOE stock traded down $2.41 during trading hours on Friday, hitting $246.84. 340,080 shares of the company's stock were exchanged, compared to its average volume of 872,393. The stock's 50-day moving average is $238.35 and its 200-day moving average is $224.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.78 and a quick ratio of 1.39. The stock has a market cap of $25.82 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 1.75 and a beta of 0.46. Cboe Global Markets, Inc. has a 52 week low of $187.30 and a 52 week high of $255.27.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.43 by $0.03. Cboe Global Markets had a return on equity of 22.02% and a net margin of 18.64%.The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.15 EPS. As a group, research analysts forecast that Cboe Global Markets, Inc. will post 8.96 EPS for the current year.

Cboe Global Markets Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.72 per share. The ex-dividend date is Friday, August 29th. This is a boost from Cboe Global Markets's previous quarterly dividend of $0.63. This represents a $2.88 annualized dividend and a dividend yield of 1.2%. Cboe Global Markets's dividend payout ratio (DPR) is currently 33.76%.

Analysts Set New Price Targets

CBOE has been the subject of a number of recent research reports. Oppenheimer set a $265.00 target price on Cboe Global Markets and gave the company an "outperform" rating in a research note on Monday, August 4th. Piper Sandler upped their price target on Cboe Global Markets from $250.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Barclays upped their price target on Cboe Global Markets from $243.00 to $256.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Cowen reiterated a "hold" rating on shares of Cboe Global Markets in a research report on Monday, May 5th. Finally, UBS Group reiterated a "neutral" rating and issued a $255.00 price target (up from $245.00) on shares of Cboe Global Markets in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Cboe Global Markets currently has a consensus rating of "Reduce" and a consensus target price of $231.38.

About Cboe Global Markets

Cboe Global Markets, Inc is one of the largest stock exchange operators by volume in the United States and a leading market globally for ETP trading. Cboe offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and multi-asset volatility products based on the VIX Index.